European Commission extends review deadline for Bayer’s takeover of Monsanto

New deadline now March 12, 2018.

Delays continue for Bayer’s acquisition of Monsanto as the European Commission announced a five-day extension for the review deadline, making the new deadline March 12. The commission did not provide an explanation for the delay.

During a conference call earlier this month, Monsanto chief executive officer Hugh Grant provided an update on the merger.

“With Bayer leading the regulatory process, we continue to cooperate with regulators, and we see progress, as expected,” he said. “The antitrust approvals continue to increase, and we've now received about half of them.”

He reported that the U.S. Committee on Foreign Investment had completed its review and found no unresolved national security concerns.

“Overall, we continue to remain optimistic about our collective ability to secure the required approvals for the deal in the early part of 2018, and even as we progress closer to the expected closure of the combination, our teams have maintained their focus on the business," Grant said.

TAGS: Business
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